Mandalay on 4th is a new development on the Gulf Coast of Florida. A studio apartment here will cost just $42,500 – that’s £26,300 – and has over 540sq ft of floor space.
There are plush carpets in some areas and laminate flooring in others. Meanwhile the kitchen promises granite counters and modern stainless steel appliances.
If you don’t feel like cooking, however, Tampa Bay is just five minutes away, with plenty of restaurants and bars that cater for locals and tourists alike.
Bang for your buck
With the US property market still feeling the effects of the sub-prime lending crisis – which seems a lifetime ago in the light of the credit crunch, economic turbulence and recession that followed – you get plenty of bang for your buck throughout the States at present.
Florida is no exception, despite being one of the most desirable locations in the country, especially to Brits seeking a holiday home location that enjoys year-round sun.
Indeed, that desirability is another reason why buying property in Florida can prove a wise investment choice.
Reaping the rewards
Torcana, the developer, says the rental yield on its studio apartments is eight per cent on average – higher than the one and two-bedroom condos, which generally command between 5.3 and 7.7 per cent yield.
Spending some of the year – or all of the year, if you feel like relocating permanently – in a Mandalay on 4th studio isn’t just about the interior of the property; it also puts you within touching distance of Tampa, one of the hottest regions of the Sunshine State.
That means opportunities to work in high-tech industries, respected universities and a regional centre of government.
However, the apartments are also close to neighbouring Saint Petersburg, which offers a contrasting pace of life.
In this area, you have access to beautiful beaches, a laidback lifestyle, natural beauty at an unparalleled level and wonderful wildlife.
Getting there
For part-timers, reaching your holiday home should be a matter of relative ease, thanks to the nearby Tampa International Airport and a not-too-taxing ten-minute transfer time on arrival.
The journey is pretty memorable in itself thanks to the Howard Franklyn Bridge, a Saint Petersburg landmark located just two minutes from your Floridian hideaway and a structure that could soon become a signpost for the true beginning of your holiday in the States.
To find out more about Mandalay on 4th, contact Torcana on 0207 193 4024 (or +3531 4433 991 if you’re calling from Ireland).
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